How long for retirement?

If you've ever read the book, Random Walk Down Wall Street, you know how worthless (and expensive) most fund management is.

That .5 to 1% in expenses per year could wreak havoc on your nest egg over the life of your saving.

Check out feex.com . (Don't know them, or have any ownership - I'm a truck driver for God's sake) They compare the expenses of your funds to all other funds with similar holdings, thus giving you the same return with less expenses. You're welcome.

 

You can do anything you want and it doesn't take much to build up 1.3. Plus if done rite you and your grandkids should have a nice life

 

Yup. I used to have this talk with the younger guys in my last workplace. There were a couple guys that hadn't even begun putting in the 4% that the employer matched to 100% (fully vested from day one). They wouldn't even do it after myself and the HR guy explained that they were passing up on about $200/month in free money. One had been there for two years. Oh well...I figured it out by my mid-late 20's. I figured if I could get them clued in by their early 20's, I'd be doing them a favor and they'd have a nice jump-start on a nest egg.

 

Union membership has decreased in the last half century from an all time high of 25% to 30% to LESS than than 10%. A much safer estimate might be closer to 7%. More than likely, union membership may dwindle much further.

Some of the reasons are:
1) outsourcing to foreign countries
2) a global economy with free trade agreements as NAFTA
3) uncontrolled illegal immigration
4) a lingering high unemployment rate
5) relocating U.S. companies from union shop states to right-to-work states

Currently there are 24 right-to-work states and 26 union shop states.

Kansas, the state that I currently live in, has the right-to-work law in their state constitution. It has been that way since 1959.

 

My point exactly. I could do well on 2% of that amount annually.

 

Sorry to hear about the wife ... it's sad when things don't go according to our "game plan" and the important people in our lives are no longer there to enjoy the benefits of all their years of work ... but it appears that you must be doing something right ... the wealth continues to grow and you can look forward to a good stretch of years without having to resort to drastic measures to keep body and soul together. Like yourself, I have Roths in my name and the wife's name, traditional IRAs that were rolled over from previous employers where both of us worked and still continue to put money in to 401-Ks every week and Roths every year. It's kinda cool having reached the point where your money is working for you instead of the other way around ... and hey ... you're still kinda young ...

 

Check into city/county/state jobs.

Many still offer pension plans.

 

The irony was the biggest portion of her portfolio was in her ESOP, or Employee Stock Option Plan which continued to grow after her medical retirement. I don't think she was aware of those funds (I know I wasn't) which were twice what her 401k was. Additionally she would receive quarterly dividend checks which were connected to that account.

The company is Publix Supermarkets of Lakeland FL. I always wanted to drive for them but live to far from a distribution center.

I visited my advisor this morning and we discussed the option of rolling money from my IRA into my Roth, paying the tax now rather than later. Although it is unlikely for me to be in a higher tax bracket in the future, it would be nice for my beneficiaries' if there is (hopefully) something left for them. I had been unaware of this option until recently.

 

but you may be in a muchmuch Lower tax bracket..so it may be beneficial to wait
I would have no way of knowing your position..was just commenting.

 

Yeah I know. I don't plan on withdrawing large chunks at a time anyway so I wouldn't have a big tax bite each time. The Fed is going to get theirs one way or another no matter how we try to maneuver.